Becoming a first-time home buyer in San Rafael, CA is an exciting milestone — and with the right mortgage strategy, it’s more achievable than many people think. DiVita Home Finance specializes in helping San Rafael first-time buyers navigate loan programs, down payment assistance, and the Marin County market.
Best Mortgage Programs for San Rafael First-Time Buyers
FHA Loans: The most popular choice for first-time buyers. You only need 3.5% down with a 580+ credit score, and Marin County’s high FHA loan limit means even many single-family homes qualify. FHA allows gift funds for the down payment and is more flexible on credit history than conventional loans.
Conventional 3% Down (HomeReady / Home Possible): For buyers with better credit (620+), Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs offer 3% down with reduced PMI for income-qualifying borrowers. These can beat FHA pricing for buyers with 680+ credit.
CalHFA Loans: California Housing Finance Agency offers down payment assistance combined with competitive first mortgages. Programs vary annually — contact us for current availability and income limits in Marin County.
USDA Loans: Some areas on the outskirts of San Rafael may qualify for USDA rural housing loans — zero down payment, low rates. Eligibility depends on property location and household income.
Down Payment Assistance in Marin County
Several programs can help San Rafael first-time buyers cover the down payment:
• CalHFA MyHome Assistance Program: A deferred-payment junior loan for 3.5% of the purchase price
• Marin County first-time buyer programs: The county and city of San Rafael periodically offer local assistance — check with DiVita Home Finance for current availability
• Employer assistance: Some Bay Area employers offer homebuyer assistance benefits
How Much Do You Need to Buy in San Rafael?
For an $800,000 home in San Rafael with an FHA loan:
• Down payment: ~$28,000 (3.5%)
• Closing costs: ~$8,000–$12,000 (can be covered by seller credits or rolled into the rate)
• Upfront MIP: ~$13,650 (rolled into loan)
• Total cash needed: ~$36,000–$40,000 minimum
With a conventional 3% loan: similar down payment but potentially lower monthly PMI if your credit score is strong.
Frequently Asked Questions: First-Time Buyers in San Rafael
What credit score do I need to buy in San Rafael?
FHA allows 580+. Conventional loans start at 620. Better scores (680+) unlock lower rates and reduced PMI.
Can I use gift money for my down payment?
Yes — FHA and many conventional programs allow 100% gift funds for the down payment from family members.
Is there a first-time buyer income limit for Marin County?
Most assistance programs have income caps. In high-cost Marin County, limits are typically higher than elsewhere in California. We’ll check current eligibility for you.
Ready to buy your first home in San Rafael? Call DiVita Home Finance at (800) 239-1103 or visit our Marin mortgage brokers to get started.
About DiVita Home Finance
DiVita Home Finance is a small, family-owned mortgage company based in Marin County, California. When you call, you speak directly with Michael DiVita — the owner — not a call center, not an out-of-state rep, not someone reading from a script. We’re here for a low-key, no-obligation conversation about your situation.
We take your privacy seriously. We will never sell your information to third-party lenders or lead generation companies — unlike many of the large mortgage platforms. Your inquiry stays with us, period.
📞 Call: (800) 239-1103 | 💬 Text Michael directly: (310) 849-9124
